56 LILAC STREET
Cornerstone · N2G3A8
$949,900
About this residence
Nestled on a quiet, tree-lined street near Courtland and Ottawa, this well-kept four-plex offers both stability and potential in Kitchener’s thriving rental market. The property includes two spacious 2-bedroom/1-bath units and two comfortable 1-bedroom/1-bath units within a peaceful, non-smoking building. Current tenants are respectful working professionals, creating an ideal environment for mature renters seeking calm and comfort. Conveniently located just a one-minute walk to the Mill Street LRT station, and with bus routes close at hand, the property provides excellent connectivity to Uptown Waterloo, Downtown Kitchener, and surrounding areas. Tenants also benefit from two separate driveways with parking for seven vehicles, on-site coin-operated laundry, and a large shared yard with plenty of green space. With its prime location, strong tenant base, generous parking, and immediate upside potential, this property is a rare turnkey investment opportunity in one of Kitchener’s most desirable areas. (id:61366)
Property details
- Property type
- Multi-family
- Style
- Fourplex
- Ownership
- Freehold
- Bedrooms
- 6
- Bathrooms
- 4
- Storeys
- 2
- Living area
- 3,899 sq ft
- Frontage
- 75 feet
- Parking
- 7 spaces
- Year built
- 1950
- Annual tax
- $4,545
- MLS®
- 40830330
- Board
- Cornerstone
- Status
- Active
- Listed
- May 14, 2026
- Updated
- Jun 2, 2026
Features & finishes
Heating
- Forced air
- Baseboard heaters
Basement
- Full
- Finished
Exterior
- Brick
- Vinyl siding
Parking
- Carport
Lot
- Laundry- Coin operated
Sewer & Utilities
- Municipal sewage system
Community
- Community Centre
Financing
Estimated monthly payment
$4,442/mo
Loan amount
$759,920
Down payment
$189,980
Estimate only. Rates and terms vary by lender and qualification.
Powered by Lenderoo.caLocation & area
Cornerstone
Nearby
About the area
Census · N2G- 14,580
- Population
- 38
- Median age
- $62,400
- Median income
- $500,000
- Median home value
- 31%
- Home ownership
- 24 min
- Avg. commute
Age distribution
Tenure
Neighbourhood statistics for the property’s forward sortation area. Figures are census-derived estimates.
Powered by Neighbourly.ioFrequently asked questions
What is the asking price for 56 LILAC STREET?
56 LILAC STREET is listed for $949,900, in Cornerstone.
How many bedrooms and bathrooms does 56 LILAC STREET have?
It offers 6 bedrooms and 4 bathrooms.
What type of home is 56 LILAC STREET?
56 LILAC STREET is a Multi-family, Fourplex set over 2 storeys, built in 1950.
How large is 56 LILAC STREET?
The home offers approximately 3,899 sq ft of living space.
What would the monthly mortgage payment be?
With a 20% down payment at a 5.0% interest rate over a 25-year amortization, the estimated monthly payment is about $4,442. Use the mortgage calculator above to model your own scenario.
What are the annual property taxes?
Property taxes are approximately $4,545 per year.
Is there parking?
Yes — 56 LILAC STREET includes 7 parking spaces.
What is the Cornerstone area like?
Cornerstone has a population of about 14,580, a median age of 38, a 31% home-ownership rate, with an average commute of about 24 minutes.
What is the average home value in Cornerstone?
The median dwelling value in this area is approximately $500,000, based on census data via Neighbourly.
What is the median household income in Cornerstone?
The median household income in this area is approximately $62,400.
Similar residences
Comparable Fourplex near Cornerstone at a similar price.
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